Ok, so I am trying to open my own Optical shop and I was wondering my square footage is 866. How many frames do most small optical shops start with? I was thinking about 200? What do u think?
Frame inventory
Ok, so I am trying to open my own Optical shop and I was wondering my square footage is 866. How many frames do most small optical shops start with? I was thinking about 200? What do u think?
300, then try to keep your reps from inducing you to increasing this.
First thing you know you have 300 on the shelves and another 200 that you were unable to see, didn't get returned or became unreturnable during the time the company didn't have a rep, or the company went away.
Chip
What are your deomgraphics? Are you going to take insurance? How many vendors do you want to deal with?
With a good mix, you could probably get by with 200 and buy as you go. Most offices I have opened start higher - but they are Dr's taking insurance which will generate business a little quicker.
Make sure your displays are designed to be flexible - so that 200 won't look barren but that you can eventually carry 1000 and not look crowded.
Oh, just saw Chip's post - and although I am a rep I said 1000 because you will just be that successful ;) and will eventually need 1000 frames!
Two or three hundred? That might suffice if he's selling frames from a hot-dog stand.
You can buy two or three hundred frames for (won't mention wholesale cost) a very small amount of money.
Demographics, as was pointed out, are important, but I don't know of any demographic that can be served with that few frames unless you're out in the sticks and thus the only option.
A "hole in the wall" optical in a metropolitan area won't make it, unless you're specializing in really high-end stuff. If you sell value, sheer volume is the only thing that will help you, and for that you need to buy enough quantity to keep your costs down.
If you can't display 1k or more frames, don't open until you can.
I'm thinking that you might not be ready to open your own optical.
OK we seem to be all over the map, but suffice it to say, it is more than 200! I would say 1000+ is excessive for a startup and you will likely be stuck with a lot of frames unless you are unusually busy from the get go.
I agree with the post about flexibility in your displays. Avoid traditional frame bars in a "bookshelf" type displays. Instead, use glass shelves and great lighting to give an upscale look that feels purposefully minimal (like an art gallery). that way you are still enticing, even with 500-600 frames, which I think is a good start. A good rule for optometrists is 100 frames per 100k with 400 min. Without doctor revenue, you could probably say 100 per 50k with 400 min.
With the right mix, you can still look really well funded and upscale (if that is what you are going for).
Ive got a different take on an inventory that size. Pick carefully. Set up a drawer system, (you dont have to show every frame you carry) Use your shelf space without looking cluttered. I like to buy frames that I feel define a line. If its a modern line stick with the peices that make the line modern. If its classic go with the classic. My preference is to go deeper into colors of some models than to carry more models and pass on good colors. I find 8 models in 3-4 colors of each model will do better than 16 models in 1-2 colors of each. Black and Tort. are easy to describe especally if in the same line but usually show more sales than red or blue or green .
Here's a thought...how much capital are you willing/able to invest?
What frame lines were you thinking of bringing in?
Vision Expo might be a good place to start. They have several classes that cover frame inventory strategies. Meet many reps and get show pricing. Until you "know it all", this would be a good investment.
This is a very small space and is located in a outdoor strip mall, I would say about 300 square feet of the space is a back room area not visible or usable for displays. There will not be a doctor in my store and I will not be excepting insurances. I would like to carry a higher end product. Not super expensive, but not cheap either. For example I really like the Avalon products. There are made very well and look like the Prodesign models for alot less. I spoke to the next door neighbor who owns a high end womens clothing store, to estimate how many walkins I could expect from this location. She told me between 8-30 per day. So, now knowing this do you think 200 would be sufficent?
While in New York City, I went shoe shopping, more than once. There were SEVERAL shoe stores in in a 2 to 3 block area. All store fronts were about the same size. We bought shoes in a store that had 1000's of shoes from floor to ceiling and at very low prices. Then we walked next door to see a store that only had about 50 pair on display. Yes, those shoes cost more. One was like a flea market, one was like a salon.
I bet that only makes decision of how many frames to cary, a harder decision.
Jim Rumbaugh
I would pick lines that will appeal to different target market groups. Target by age and gender. Classic, modern and funky designs. You will definatly find overlap. If you want a luxury line look for one that will cover both genders and different age groups something like a small private no minimum order manufactures "gold & wood" rimless frames.
Depending on your location, target market and competition you might be able to use obscure lines, some of which can be very profitable. (Better margins)
Due to the locations of the shops I run, I need some of the branded products, you might not need any.
You need at least 400 frames or people will ask "is this all you have?"
Before you decide how many and what frames to carry, you have to find a way to get Rxs in your store. Not just browsers, but people with a current Rx in hand who want and/or need specs now.
Think long and hard and have a backup plan or seven backup plans!
Why would I drive away from my eye doctor's dispensary to come see you? You must have a competitive advantage.
Will you develop a relationship with non-dispensing refractionists? Will you advertise heavily? How about an open door into the women's store next door?
First things first
Before you put the cart before the horse, you need to be thinking about ADVERTISING.
I was an Ast Manager of a Very small optical next to a college University. All we sold were Plano Suns. In the 6 months I was there I think we sold 6 or 7 Rx's. The owner just didn't advertise right. We had about 450 frames, mostly Lux & Safilo, Oakly, Maui etc. Some Sama, Kata Silhouette etc. About 80% Sun.
Some weekends I would go all day with no one walking in. I was basically getting paid to study and do HW. Owner finally closed down. Apparently he didn't like loosing 2,000 each month. Go Figure!! :hammer:
Before you figure out what you are going to be selling, figure out WHO you will be selling to and how you are getting them in the door :)
Last edited by Crazy-bout-Optics; 06-05-2008 at 06:05 PM.
What does your accountant think?
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